Minister Rajaa flays EPS for ‘flawed’ claims on foreign investment
CHENNAI: Industries Minister TRB Rajaa hit out at AIADMK General Secretary Edappadi K Palaniswami on Wednesday for levelling “baseless, fundamentally flawed and malicious” allegations about foreign investment and industrial development in Tamil Nadu. The minister said the quantum of investments in Tamil Nadu has increased by 12.3%
He clarified that foreign investments are not a perfect indicator of growth because even the companies that invest in a particular state, will only credit the funds to the state where their headquarters are located. So, experts do not consider this a proper indicator. Nevertheless, Chief Minister M K Stalin has secured investments worth nearly Rs 10 lakh crore and created more than 31 lakh jobs in Tamil Nadu in the past three years alone, the minister said.
Stating that Palaniswami should stop issuing politically prejudiced statements and instead take pride in the growth of Tamil Nadu, Rajaa said that when the BJP-led union government tried to forcefully shift semiconductor companies from TN to other states, Chief Minister Stalin publicly spoke up against it, but the AIADMK leader remained silent. “This proves that the leader of the opposition is making statements about semiconductors due to his insincerity. Despite all challenges, the day is not far when semiconductor-related investments will come to Tamil Nadu,” he further said.
“The leader of the opposition, who is now concerned about the textile industry, did not bring a single paisa worth of investment to the textile sector during his tenure even though his party was an ally of the BJP government at the centre. Only under the DMK government, various incentives worth over Rs 500 crore were announced recently. Investments worth Rs 20,162.44 crore have flowed into Tamil Nadu’s textile sector alone since 2021,” Rajaa added.
Rs 31L jobs created’
TRB Rajaa said that foreign investments are not a perfect indicator of growth because even the companies that invest in a particular state, will only credit the funds to the state where their headquarters are located. CM M K Stalin has secured investments worth Rs 10 lakh crore and created more than 31 lakh jobs in TN, the minister said